Shares of the real estate company Lancor Holdings were locked on a 5% upper circuit during the early morning intraday on 18 August after the company announced ex-bonus in the ratio of 1:2.

The Board of Directors of Lancor Holdings have announced the allotment of one fully paid bonus share of Rs 2 each for every two fully paid up shares of Rs 2 each owned by its shareholders as of the record date of 18 August 2023, with no additional cost.

The bonus will be issued out of the company’s free reserves or any other permitted reserves or surplus Lancor Holdings might have as per the earnings for the financial year ended 31 March 2023.

The total number of securities set to be issued for the bonus share will be 2,02,50,000 equity shares of Lancor Holdings.

The bonus share will be only credited to those with two months from the board’s approval date for the bonus issue.

The company reported a massive increase of 500.41% YoY for its net profit at Rs 0.58 crore for the quarter ending in June against the Rs 0.14 crore reported in the year-ago quarter.

The company’s revenue from operations was up by 7% on a yearly basis at Rs 27.78 crore from Rs 25.95 crore reported in Q1FY23.

At 3:30 pm, the shares of Lancor Holdings closed at Rs 39.86 or 5.03% above its previous close on NSE.